Building Details

Buildings 1

Tenancy Multi

Listing Agency: Weichert Realtors-Sea Girt j***@weichert.com Show Phone

Listed By: Janet Marcellino · License #0901597 Show Phone

Source: Exprealty

Added: Jul 22 Changed: Aug 20 Last Checked: Aug 21 at 1:52PM

Report an Issue

Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Weichert Realtors-Sea Girt

Investment Insights

Based on property information with market context.

This end-unit condominium provides approximately 940 sq ft across two levels in a four-unit building. The lower level contains 570 sq ft of heated, climate-controlled garage and warehouse area with epoxy flooring and a car lift. Above, 370 sq ft of office space includes a private bath with walk-in shower and a kitchenette or break area finished with granite countertops, stainless steel refrigerator and freezer, and white cabinetry.

Central air and heat, attractive flooring, and windows on multiple sides bring comfort and natural light throughout the space. The layout supports a small business, professional office, or a combined workspace and storage arrangement. The property is located at 1-1646 Beaver Dam Rd in Point Pleasant Boro, New Jersey.

Key Highlights

• Approximately 940 sq ft of flex condominium space in a four‑unit building
• 570 sq ft heated, climate‑controlled garage and warehouse area
• Epoxy flooring and car lift in the lower‑level garage

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$14,382

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

4.51%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$287,640 $287.6K

Cap Rate 7%

$205,457 $205.5K

Cap Rate 9%

$159,800 $159.8K

Market Conditions

NOI Build-Up for 940 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$28.2K $30.00/SF

− Vacancy

−$9.0K −$9.60/SF

EGI

$19.2K $20.40/SF

− OpEx

−$4.8K −$5.10/SF

NOI

$14.4K $15.30/SF

Area

Ocean County, NJ

Vacancy

32.00%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$287,640

Cap Rate 7%

$205,457

Cap Rate 9%

$159,800

Alternative Uses

Best Use

Office B

$205.5K

$179.8K – $239.7K (±1% cap)

NOI $14,382 @ 7.0% cap · market cap 4.51%

Second Best

Warehouse

$183.0K

$160.2K – $213.5K (±1% cap)

NOI $12,812 @ 7.0% cap · market cap 4.02%

Theoretical Best

Office A

$245.5K

$214.8K – $286.4K (±1% cap)

NOI $17,182 @ 7.0% cap · market cap 5.39%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Parking Lot & Garage Law Firm Pharmacy Food Market (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

1

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

583

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 08742, NJ

25,056

Population

12,604

Households

2

Avg Household Size

46

Median Age

52%

College-Educated

95%

High-School Grad

5.6 sq mi

ZIP Area

4,474

Density / Sq Mi

$111,983

Median Household Income

$57,547

Median Earnings

$1,879

Median Rent

$576,300

Median Home Value

Market

Vacancy Rate% for Office in Northeast region

13.1% 2019

15.4% 2020

17.6% 2021

19.1% 2022

20.2% 2023

20.9% 2024

19.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Similar Off Market Nearby

• Nettuno Truck — 219 Bridge Ave, Point Pleasant, NJ 08742
• Lovelandtown Catering — 219 Bridge Ave, Point Pleasant, NJ 08742

Frequently Asked Questions

What type of property is this?

Flex space - Two-level configuration combines a climate-controlled garage area with finished office space, a private bath, and kitchenette.

Where is this flex space located?

The property is located at 1-1646 Beaver Dam Rd Point Pleasant Boro, NJ.

What is the asking price?

The asking price for this property is $319,000.

What are key features of this property?

This property features: Approximately 940 sq ft of flex condominium space in a four‑unit building; 570 sq ft heated, climate‑controlled garage and warehouse area; Epoxy flooring and car lift in the lower‑level garage